Vietnam-EAEU trade doubles to hit $5.6 bn in 2024 after 2015 FTA
Ten years into the free trade agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU), the former's trade turnovers with Armenia, Kazakhstan, Russia and Belarus have surged 61-fold, 4.2-fold, 1.3-fold and by 34 per cent respectively, according to data from the Eurasian Economic Commission.
Vietnam-EAEU trade doubled to reach $5.6 billion in 2024, Ta Hoang Linh, director of the department of foreign market development in the Ministry of Industry and Trade, said at a press conference in Hanoi recently to mark the 10th anniversary of the FTA.
Ten years into the FTA between Vietnam and the Eurasian Economic Union (EAEU), the former's trade turnovers with Armenia, Kazakhstan, Russia and Belarus have surged 61-fold, 4.2-fold, 1.3-fold and by 34 per cent respectively. Vietnam-EAEU trade doubled to reach $5.6 billion in 2024. Envoys from all five EAEU nations expressed their desire to further strengthen cooperation relations with Vietnam.
Vietnamese businesses have been capitalising on tariff incentives to boost exports, he noted.
The pact was officially signed in Kazakhstan on May 29, 2025, during the second meeting of the Eurasian Intergovernmental Council.
It was the first trade agreement the EAEU signed with a non-member country.
Ambassadors from all five EAEU nations expressed their desire to further strengthen cooperation relations with Vietnam, a Vietnamese news agency reported.
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